Jaiprakash Associates tanked 8.28% to Rs 28.80 at 15:02 IST on BSE, with the stock extending Monday's fall triggered by the rating agency Credit Analysis & Research downgrading the long-term and short-term bank facilities of the company.
Meanwhile, the S&P BSE Sensex was down 188.25 points or 0.66% at 28,311.29.
On BSE, so far 58.23 lakh shares were traded in the counter as against average daily volume of 53.93 lakh shares in the past one quarter.
The stock hit a high of Rs 31.20 and a low of Rs 28.25 so far during the day. The stock had hit a 52-week low of Rs 24.05 on 25 September 2014. The stock had hit a 52-week high of Rs 89.85 on 11 June 2014.
The stock had underperformed the market over the past one month till 24 November 2014, advancing 4.32% compared with Sensex's 6.14% rise. The scrip had also underperformed the market in past one quarter, sliding 39.44% as against Sensex's 7.87% rise.
The mid-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.
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Shares of Jaiprakash Associates have declined 8.42% in two trading sessions from Rs 31.45 on 21 November 2014 after the company after market hours on 21 November 2014 said that rating agency Credit Analysis & Research (CARE) has downgraded the long-term and short-term bank facilities of the company. The stock had slipped 0.16% to settle at Rs 31.40 on Monday, 24 November 2014.
Jaiprakash Associates reported a net loss of Rs 106.48 crore in Q2 September 2014 compared with net profit of Rs 67.67 crore in Q2 September 2013. Net sales declined 15.4% to Rs 2664.12 crore in Q2 September 2014 over Q2 September 2013.
Jaiprakash Associates is a diversified infrastructure conglomerate with business interests in engineering & construction, cement, power, real estate, expressways, fertilizer, hospitality, healthcare, sports, information technology and education (not-for-profit).
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